Please help me regarding the EPF challan. If the basic salary is 7500/-, then at which rate do we pay the amount of EDLI & Insp. Charges in A/c-21 & A/c-22, 7500 or 6500?
If you have restricted your contribution to Rs. 6500, then that is the PF qualifying salary. All contributions like administration charges, EDLI, etc., are to be paid at the prescribed rates on Rs. 6500 and not on Rs. 7500 or such higher amounts.
Deduction and contribution to A/C No. 1 shall be on the full salary of Rs. 7500 if the company and the employees so desire, and the contributions to other accounts shall be on Rs. 6500.
Regards,
Madhu.T.K
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